Share Purchase Plan Opens

Share Purchase Plan Opens

Share Purchase Plan Opens 10/06/2013

Further to the announcement of 22 May 2013, DNZ Property Fund Limited (DNZ) is pleased to advise that the Share Purchase Plan (SPP) opens today.

 
The offer is capped at $20 million and may be subject to scaling. The offer allows Eligible Shareholders with a registered address in New Zealand, the opportunity to purchase additional Shares in DNZ without brokerage and transaction costs. The record date for determining Eligible Shareholders was 7 June 2013.

Eligible Shareholders can apply to purchase parcels of shares of any amount in multiples of $1,000 up to $15,000. The issue price of the shares will be the lower of:

a

$1.6575 per Share (being the price paid by investors in DNZ’s recent private placement less 2.25 cents per Share); and

b

the average end of day market price of the Shares over the 10 business day period from, and including, 17 June 2013 to, and including, 28 June 2013.

The issue price will be fixed as at 5.00pm on 28 June 2013.

Details of the offer are being mailed to Shareholders today. Applications need to be received prior to the close of the offer at 5pm on 28 June 2013. Shares subscribed for under the SPP are expected to be allotted on 5 July 2013.
 


 
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For Further Information Please Contact:
Tim Storey, Chairman, DNZ Property Fund Limited
Mobile: 021 633 089 – Email: [email protected]

Paul Duffy, Chief Executive, DNZ Property Fund Limited
DDI: 09 913 1154 – Mobile: 021 843 758 – Email: [email protected]

Jennifer Whooley, Chief Financial Officer, DNZ Property Fund Limited
DDI: 09 913 1150 – Mobile: 021 536 406 – Email: [email protected]

DNZ Property Fund Overview
DNZ Property Fund Limited owns one of New Zealand’s largest diversified investment property portfolios with commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 31 March 2013, DNZ Property Fund owned 48 properties with 258 tenants, a weighted average lease term of 5.2 years and an occupancy rate of 99.6% over a net lettable area of 354,502m².

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ also holds management rights to Diversified NZ Property Fund Limited, a $111 million (as at 31 March 2013) commercial property portfolio.

DNZ’s top 10 tenants as at 31 March 2013: Bunnings, Fletcher Building, NZ Government, Progressive Enterprises (Countdown), Foodstuffs (PAK’nSAVE & New World), ASB, Westpac, Meridian Energy, Lion and Mitre 10. These 10 tenants represent 52% of the Company’s total contract rental.

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